India, Australia to speed up CECA talks, expand trade benefits for exporters
India and Australia are moving to expedite negotiations on a Comprehensive Economic Cooperation Agreement (CECA) to expand duty-free market access for Indian exporters. Union Minister of Commerce and Industry Piyush Goyal met with Australian Minister for Trade and Tourism Senator Don Farrell on the sidelines of the G20 Trade Ministers' Meeting in Milwaukee, where both leaders discussed fast-tracking the agreement.
During the meeting, the two ministers identified key areas of collaboration including pharmaceuticals, services, investment, agri-tech, and critical minerals. They also reviewed progress on the existing India-Australia Economic Cooperation and Trade Agreement (ECTA), ensuring Indian businesses fully leverage duty-free access to the Australian market. Additionally, India and Australia are working towards a bilateral investment treaty to build a trusted partnership based on their complementary economic strengths.
Bilateral trade between the nations reached USD 50.2 billion in 2025, with India serving as Australia's fifth-largest trading partner. In FY2024-25, Australia exported goods and services worth USD 32 billion to India and imported USD 18 billion. Investment flows reflect the deepening relationship, with Australia's investment stock in India standing at USD 26.8 billion, while India's investment in Australia was valued at USD 45.3 billion as of end-2025.
